https://www.taxtmi.com/caselaws?id=441900 The Tribunal allowed the assessee's appeal, directing the tax treatment of the redemption amount from insurance policies as capital gains with indexation. The decision clarified that the exemption under section 10(10D) does not apply when premiums exceed specified limits, and ULIPs should be treated similarly to mutual funds for tax purposes. The Tribunal referred to a new provision in the Finance Act to tax such amounts as capital gains and instructed the AO to allow indexation for calculation, departing from taxing the amount as income from other sources. en-us Thu, 17 Aug 2023 00:00:00 +0530 Sat, 19 Aug 2023 10:15:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441900 The Tribunal allowed the assessee's appeal, directing the tax treatment of the redemption amount from insurance policies as capital gains with indexation. The decision clarified that the exemption under section 10(10D) does not apply when premiums exceed specified limits, and ULIPs should be treated similarly to mutual funds for tax purposes. The Tribunal referred to a new provision in the Finance Act to tax such amounts as capital gains and instructed the AO to allow indexation for calculation, departing from taxing the amount as income from other sources. Case-Laws Income Tax Thu, 17 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441900